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Home My WebLink About0289 INSTAILMENT PROMISSORY NOTE n~-~ ~~.1,S~'IATE~. IMC.* Amount R~ce~wd s 6282.00 B/~? 1T( NAM~ 191 Premium IOr Credit pa~ Lit~/pis~biliry Ins. S P• 0. ~x 618~ BE~~ 3`~J7 (C) Ootumentsry Stamps S A~~ OFFICE AOORESS 10) Otha Char~s Iitem~re) S AQ~ ~e~ s ~ ~ NOTE NO. DATED: JdllUdl"y 3O ~ , 19ZS_. (FI S~ (GI Arnount Finanted oue: February 16 ,~9~g. ~A. B, c, o, e. F? s 62~2.~ IH) inter~st s.-~,BQ.~Q._ PIACE~ , FLORIOA Cndit Invesugauon S o~n.. s p=e~--- For vaiue r~cerved, the unders~gned (hereinafter called "Make~") jancly and severally (if ~K) _ more than onel promise to pay to the order ot the Bank, at its off~ce listed above, the Toal ~ ot Paymems Itrom tNl at rightl of~62~~ pollsrs payable in S~"° IM1 FINANCE CHARGE equal monthly ins[allments of s the (int K. 5~~.~ ~nstallment due on March 16 ,~9 78, and subsequent inscallments due on ~N) Total of Paymeots IG + M1 S~2.~ the li~~y q( exA month ihereatter, togsthsr with a FINAL BAILOON PAYMENT OF: ANNUAL PERCENTAGE RATE l,Q~~ X S r~unr OUE M~~~r~M~~ , 19 The Bank shall impose a delinquency. charge against the Nlaker on any payment wh~th has becorns due and remains in detautt fw a period in ezcesx of 10 days in an amount equal to 576 of the amount of the p~inc~pal pa~t of the payment in default. In the event that tl?e Note is ~ot paid in full st maturity, all pay- me~ts, whether p~incipal, inte~est or otherwise, shal{ bear interest at the maxirtwm legal rate allowed under the laws of the State oi Florida. All payments made hereunder shall be credited first to interest and then to printipal, however, in the event of dtfault, the Benk may, in its sole distretion, epply any payment to ~nierest, p~inclpal and/w lawtul charges Theo accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for che payment ot a greaier rate of interest or the retentio~ oi any othe. charge than is allowed by hw. If, for any reaso~, interest ir~ exceu ot wch legal rate or a charge prohibited by law shall at any time be paid, any such excess shall either constitute and be treated as a payrt?ent on the principal w be refunded directly ~o the Make~. The Maker may p?epay the entire u~paid bala~ce oi the loan at any time. It the loan is prepaid in full, accelerated or retinanced, the Maker shall receive a retund of the unearned portion of the interest and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be ent~tled to retain a mmimum inte~at charge of CREOIT LIFE AND CREDIT LIFE & OISABIIITY IPISURANCE ARE VOLUNTARY AND NOT REQUiREO FOR CREDIT. Such inwrance cove.age is availabte at the cost designated below fo. the term of the uedit: (a) S ~or Credit L~te Inwrance (b) S for Credit Life 8 Oisabil~ty InsuranCe: Chetk ? Credit Life Inwrance is desired on the life of Appl. ' Birthdate Box ~ C~edit Lrfe & D~sability Insurence is des~red on irthdate - ~ Credit Life andlor Disability Inwrance is not desired. ~ ~ ~ate: ~Jd11Ud1"~( 3O ~ 1978 S~gnawre ~ ' lex ra N. Kieaker - Signature As securit (or the payment of the Note the N~aker hereby g~ants to the Bank a secur~ty inte.est in the following property: 1n Tut~tle Neat CaM. reoorded oa O.R. 6ook 256, P~e 235... lMit Meeics 17 aad 18 in Copd. C-3, Mt. No. C-3 u descMbed 1n satd ~r~t~age. ~ncluding all increases, wbstitutions, replacements, addrt+ons and accessions thereto and in the proceeds thereo~ (here~r?afte. called "Collateral"~. This security I ~nterest shall also secure a~y other +ndebcedneu w tiability of the Maker to the Bank direct or iodirect, absolute or con2ingent, due or ~o become due, now ex- ~sting or hereafter arising, includ~ng a~l future advances or loans by the Bank to the Maker. i The Bank is also g~ven a hen and a security meerest m all property and secunt~es of the Maker, endorser, surety, guarantor or accommodation party of this Note (hereinafter referred to as the "Obl~gors'"), now in or at any time hereafter comirg ~nto the cont~ol, cuttody or possess~on of the Bank, whether for the ex- pressed purpose o( being used by the Bank as CoI?ateral, or tw any other purpose, and upon any balance or balances to the credrt of any a~counts, including trust and agency accounts mainta~ned w~ththe Bank by any oi the Obligors, and the Oblgors agree to deliver to the Bank addrt~onal Collateral or make such ~ payments in reduct~o~ oi the pr~ncipal amount of the loan as she~l be satisiactory to the Bank, ~n the event the aforement~oned Collateral shall decl~ne in value or become u~satis(attory to the Bank. Additions to, reduct~ons or exchanges oi, or substitutions (or the Collateral, payments on account oi this loan or ~ncreases of the same, or other loans made part~aily o? wholly upon the Collate?a1, may irom time to time be made w~thout aff~ting the provis~ons of this Note. The Bank shall exeruse reasonable care in ~he custody a?x! preservation of the Collateral to the extent requ~red by applicable statute, and shall be deemed to have exercised reasonable care if it takes wch action fw that purpose as Maker shall reasonably request in writing, but no omission to do any act ~ot requested by Maker shall be deemed a failure to exerc~se ~easonable care, and no om~u~on to comply with any request of Maker sha11 of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to ~ake any steps necessary to preserve any reghts ~n the Collateral against priw parties and Maker shall take all necessary steps tw wch purposes_ The Bank or its nominee need not collect interest on, or a p~incipal of, any Collateral or give any notice with respect to rt. The Bank may continue to hold any Collateral deposited hereunder after the payment ot th~s Note, if at tAe time of the payment and discharge hereof any o( the parties liable (or the payment hereof shall be then directly or contingently I~able to the Bank as Maker, endorser, surety, guara~tw or accommodatiort party of any other note, d~ait, b~N of exchange, or otAer instrument, or otherwise, and the Bank may thereafter exercise all rights with respect to said Collaterd~ granted herein even though this Note shall have been wrrendered to the Maker. If the Bank deems ~tself ~nsecure or upon the happening of any of the following events, each of which shall constitute a default, all liabilities of exh Make~ to the Ba~k, including the entire unpa~d principal ot this Note and accrued interett, less a~y unearned interesi and any inte~est in excess of the mazimum allowed by law and any rebates required by law, shall ~rtwned~atNy or thereafte~, at the optwn of the Ba~?k, ezcept that the oocurrence of (c) or (d) shall cause automat- ~c acceleration; without notice or demand, become due a~d payable: (a) the failure oi any Obligo~ to perform any obligation, liability or c~aim to the Bank, to pay ~nterest hereon within l~days after ~t is due, or ii there is no due date, after it is billed o? otherwise requested or demanded, or to pay any other liab~lity what- scever to the Bank when due; (b) the death of any individual Oblyor, the dissolutio~ oi any partrxrship Obligor w the dissolution, merger or consolidation with- out the Ba~k's priw wr~tten consent of any corporate Obligw; (c) the filing of a petition in bankrupity or tAe adjudication oi insolve~ty or bankruptcy unde~ any rewganization, arrangement, read~ustment oi debt, dissolution, tiquidation o? similar proceeding under any Federal or state statute, by or against any Obl~gor; (d) an applicatio~ tor the appoin[ment of a receive. for, or the making oi a gene~al auignment tor the benefit of creditws by, any Obligor; (el the entry of ~udgment agairut any Obligor; ((1 the iuuing oi any attachment or garnishment, or the filing of any lien, against any property oi any Obligor; (g? the taking oi ~ possession o( any wbstantial part oi the property of any Obligor at the instance of any gover~mental authority; (h) the determination by the Ba~k tha~ a materi- } al adverse charq~e has occu~red m the financwl coodition of any Oblgor irom the conditions set torth in the most recent financia~ statement oi wch Obligw ~ heretofwe turnished to tM Bahk, or (rom the condition of wch Obligor as heretofore most recently disclosed to the Bank, w that any warranty, representation, certiticate w statement of nny Obliyw (whether contained in this Note w not) pertaining to or in eonnection w~th this Note w the loan evide~ced by this Note contains an u~true statement of material tact or omits to state material faCt netessary in order to make the sWtements made not misleadirg: Or, (i) the auign- ment by any AAake~ oi any equity in any of the Collateral without the prior written consent of the Bank. The Bank shall have, but shatl not be lim~ted to, the tollowi~g righu, each ot which may be exercised at any t~me wfiethe~ w not ~his Note i: due: (i) to pledge or transier this Note and the Collateral and the Bank shall tlxreupon be relievcd of all duties and responsibilities hereunder and relieved from any and all Iiability with respect to any Collateral so pledged or iransferred, a~d any pledyee w tra~sieree shall for all purposes stand in the place of the Bank hereunder and ~ have all the rights o~ the Bank he.eunder; (ii) to transfer the whole or a~y part of the Collateral into the name oi itself or its nomir?ee; (iii) to vote the Collateral: (iv) to notify the Obligors of any Collateral to make payment to tAe Bank of any amounts due or to 6ecome due thereon; (v) to dema~d, we for, collect, or rt?ake any compromise or settlement it deems desirable with referenca to the Colla:eral; and (vi) to take pouession or contro! oi any proceeds of Collateral. ~ *"BANK" as used hereln ~oeans Turtle Reef Associates, Inc. and/oRr its assigns. NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION EO.n,K~~~ ~'aGE ~~V FBS 75? Rev. 7/77 - ~ ~ . . . , . _ . . . . ~ . . - - - - ~ - - . . ~ . . . ~r~n